AFC Energy PLC Signs Strategic Supplier Agreement with Zollner Elektronik AG for Hydrogen Fuel Cell Production
Key Ideas
  • AFC Energy PLC has partnered with Zollner Elektronik AG in Germany for scaled production of fuel cell modules for AFC's S series platform.
  • Production will begin immediately in Zollner's German facilities with potential for international expansion, crucial for H-power generator scale up.
  • AFC CEO Adam Bond highlights the strategic importance of leveraging Zollner's manufacturing expertise, enabling future product readiness and meeting demand.
  • AFC Energy shares saw a 4.4% increase following the announcement of the supplier agreement.
AFC Energy PLC, a hydrogen power generation technologies provider based in Cranleigh, England, has entered into a strategic supplier agreement with Zollner Elektronik AG, an electronics and mechatronics service provider in Zandt, Germany. The agreement focuses on the scaled production of fuel cell modules for AFC's S series platform, with manufacturing set to commence immediately in Zollner's German facilities and potential for global growth. This partnership is deemed critical by AFC Energy for the expansion of H-power generator production, with call off orders aligned to demand. CEO Adam Bond expressed satisfaction with the collaboration, emphasizing the significance of Zollner's manufacturing capabilities in achieving product readiness and meeting increasing demand. The market responded positively to the news, evident in AFC Energy shares trading 4.4% higher. The partnership signifies a step forward in AFC Energy's strategic approach to manufacturing and readiness for the hydrogen energy market.
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